Whales, or large cryptocurrency holders, have taken advantage of a recent significant drop in the price of XRP to accumulate over half a billion XRP tokens worth $1.26 billion. Cryptocurrency analyst Ali Martinez shared on-chain data revealing that as XRP's price declined by 13.45% between February 4 and 6, whales bought the dip and accumulated 520 million XRP. Before the drop, whales had sold a large portion of their XRP holdings to secure their profits. Additionally, a large sum of XRP, totaling $77.66 million, was transferred to the Bitstamp exchange by an anonymous wallet. The originating wallet was connected to the BitGo crypto exchange, wallet, and custodian.



Other News from Today